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LSDefine
Simple English definitions for legal terms
exception in deed
Read a random definition: Federal Deposit Insurance Corporation
A quick definition of exception in deed:
Exception in deed: When someone sells a property to another person, they might keep a part of it for themselves. This is called an exception in deed. For example, if someone sells a piece of land, but wants to keep the right to use the driveway on that land, they can make an exception in the deed to keep that right.
A more thorough explanation:
Definition: Exception in deed is a legal term used in real estate transactions that refers to a reservation of a property interest in the deed for the transferor. This means that the person selling the property is keeping some part of it for themselves, such as an easement or a life estate.
Example: Let's say that a property owner wants to sell a piece of land to their neighbor, but they also want to keep the right to use the driveway on that land to access the highway. In this case, the property owner would include an exception in the deed that reserves the easement for themselves.
Another example: A homeowner sells their house to a new owner, but they want to keep the right to use the backyard shed for storage. They would include an exception in the deed that reserves the right to use the shed.
These examples illustrate how an exception in deed allows the seller to keep some part of the property for themselves, even after selling it to someone else.